They need stronger unions to bargain for a larger share of the gains from economic growth. And a Social Security payroll tax that exempts the first $25,000 of income and eliminates the ceiling (now $110,100) on income subject to it.
And they need an industrial policy designed to create high-wage jobs in America.
In accepting his party's nomination for president, Obama said the "basic bargain" that once rewarded hard work and gave everyone a fair shot had come undone.
He's right. And the U.S. economy won't return to normal until that basic bargain is remade.
If Obama gets a second term, recreating that bargain -- and getting enough votes from Congress to do so -- will be his central challenge, and America's.
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